Financial Services
Bank loan growth slows to 8.4% in August as business sentiment sours
Bank loan growth slows to 8.4% in August as business sentiment sours
Domestic financing and mortgages took a beating.
OCBC Wing Hang Bank kills $425.9m sale of Hong Kong Life Insurance
The closing conditions have not been met in time.
Faster Payment System goes live
Customers can now make and receive real-time payments.
Approved mortgage loans up 7.7% to $47.7b in August
The number of mortgage applications also rose 26.3% to 17,963.
Hong Kong ends era of cheap money after hiking base lending rates to 2.5%
Banks are widely expected to hike prime rates soon.
Hong Kong set to vault to the top of global IPO league with $300b haul
A strong Q3 performance has boosted expectations of the SAR taking the top spot.
Hong Kong mulls remote bank account opening in the Mainland
Facial recognition technology and biometric methods may be used.
HKD posts largest growth in 15 years as liquidity tightens
The local currency climbed by as much as 0.63% to $7.793 against the USD.
Credit card transactions up 15.4% to $137.3b in Q2
The number of credit cards in circulation hit 20.06 million.
Hong Kong doubles down to capture the green finance opportunity
Around 15 green bonds with an aggregate size of US$8b were issued in H1.
Chinese medical firm Wuxi AppTec files for Hong Kong IPO after Shanghai float
It raised $2.58b in its listing earlier this year.
Hong Kong loses to Singapore in ease of corporate compliance
The SAR ranks seventh in APAC whilst the Lion City is second.
HSBC steps up Hong Kong and Singapore hiring to cash in on Asian goldmine
The bank is planning to add over 1,300 positions by 2022.
SFC slaps Huatai Financial Holdings with $800,000 fine over short selling failures
The stock broker short-selled bonus shares.
Hong Kong launches Faster Payment System in Smart Banking push
Consumers will soon be able to transfer funds instantly and without cost.
Tighter oversight pushes Chinese life insurers premiums down 24% in H1
Sales of short-term savings product were hit.
Wealthtech firms poised to snap up to 10% of wealth manager assets
Robo-advisors are steadily luring the tech-savvy mass affluent.
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